Why is the IRS saying I have an additional 1099k from Paypal?

jgrant123
Contributor
Contributor

for 2016 I rec'd my 1099 from paypal. we submitted it. the accountant messed up with the amt. so the irs sent a letter showing the correct 1099k amt. but on their list is an ADDITIONAL 1099k from paypal in the amount of $5,700. I only have one paypal account. but this does have my correct soc. security number... but a difference 'account information number'. I called paypal.. and they could not help me on the phone.. so the person emailed the dept. to ask about this ...evidently you can't call them. anyone have this problem before.

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sharpiemarker
Esteemed Advisor
Esteemed Advisor

@jgrant123 wrote:

for 2016 I rec'd my 1099 from paypal. we submitted it. the accountant messed up with the amt. so the irs sent a letter showing the correct 1099k amt. but on their list is an ADDITIONAL 1099k from paypal in the amount of $5,700. I only have one paypal account. but this does have my correct soc. security number... but a difference 'account information number'. I called paypal.. and they could not help me on the phone.. so the person emailed the dept. to ask about this ...evidently you can't call them. anyone have this problem before.


To get a reconciliation report that shows all of the transactions PayPal has included in the dollar amount reflected on that Form 1099-K you should refer to the Help Center article located here for instructions on how to find an annual financial summary.


Kudos & Solved are greatly appreciated. 🙂
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jgrant123
Contributor
Contributor

thank you. Yes, I did that . and it matched my 1099k for $36,206. I didn't see anything to indicate why Paypal would be notifying IRS of an additional 1099k for $5,700.  I have been selling on my website since 1996.. have been using paypal since they started in 1998.  I  Have rec'd the 1099k since I think 2012 or so? anyway,, wondering why this is on there.. I will talk to my accountant on Monday, and hopefully she can get some answers. Just wondering if anyone else had this happen. I only have ONE paypal account. I have never had any others.

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